The group’s Galaxy Macau casino recorded net revenue of $0.3bn, a 97% decline compared to the previous year. Adjusted EBITDA recorded a loss of $1.2bn, a huge drop from a profit of $3.2bn the last year. StarWorld Macau earned $0.1 bn, with adjusted EBITDA at negative $0.3bn. Broadway Macau’s net revenue was $12m, with a loss of $52m from adjusted EBITDA.
The results recorded a drop in numbers compared to Q1 2020, likely attributable to the global lockdown due to the COVID-19 pandemic.
Galaxy Entertainment stated, “Given our views of the immediate future, we wish to highlight that the COVID-19 crisis will continue to have an adverse effect on our 2020 financial results.” However, the group remains optimistic, adding, “We continue to make progress with our international expansion plans.”
